SUSTAINABILITY: CBO Projections Will Show Trillion Dollar Deficits as Far as the Eye Can See.

It gets worse:

The official CBO projections are likely to be lower than the budget deficits that actually occur. CBO’s report is based on current law and makes no political judgements about what Congress and the president will do in the future. That means the deficit projections will be based on the presumption that the tax cuts enacted last year that currently phase out will in fact end. That means the CBO forecast will assume that future revenues will be higher and the deficit lower compared to what is likely to occur.

The same is true for spending. For this report, the Congressional Budget Office doesn’t presume that any of the reductions proposed in the Trump 2019 budget will be enacted. That will increase the deficit outlook compared to what the White House will say it will be.

And this from the CBO:

The federal budget deficit was $598 billion for the first half of fiscal year 2018, the Congressional Budget Office estimates, $71 billion more than the shortfall recorded during the same period last year. Revenues and outlays were higher, by 2 percent and 5 percent, respectively, than they were during the first half of fiscal year 2017.

Revenues continue to climb, but at less than half the rate that spending goes up — increases which are driven almost entirely by entitlements and the ever-increasing interest payment on the ever-growing debt.